St. Petersburg's industry has slowed down after a record year in 2025

Industrial production in St. Petersburg increased by 3.6% in the first quarter of 2026 compared to the same period last year. A year earlier, the growth was 7.2%, according to Petrostat.

ILLUSTRATIVE PHOTO: spb.bbus.ru

Manufacturing continues to make the main contribution to industrial output, accounting for 82.7% of the city's total output. However, the dynamics within the sector turned out to be uneven. The production of other vehicles and equipment fell the most (to 29% from last year's level), metallurgy (to 67.6%) and printing (to 70.1%). Declines were also recorded in the textile, chemical and electronics industries.

At the same time, individual segments continued to grow at double-digit rates. The output of motor vehicles and trailers increased by 17.4%, electrical equipment — by 17.1%, medicines and medical supplies — by 18.6%. The production of paper and paper products, as well as finished metal structures, increased by more than one and a half times.

The volume of manufacturing products shipped in the first quarter amounted to 900.7 billion rubles, almost at the level of last year. At the same time, the turnover of sector organizations decreased by 10%, to 1.3 trillion rubles. The most noticeable drop in turnover was in the production of coke and petroleum products: the indicator decreased to 68.4% from the level of January–March 2025.

An additional signal of the cooling economy was the reduction in construction activity. The volume of construction work in January–March amounted to 114.6 billion rubles, and the physical volume index decreased to 90.9% year-on-year. Housing starts fell by 83.8% to 113.9 thousand square meters. m.

Against this background, the consumer sector continued to grow. Retail trade turnover in St. Petersburg increased by 7%, to 852.1 billion rubles, and the volume of paid services to the public increased by 4.3%. The average nominal salary in the city in January–February reached 124.8 thousand rubles, which is 11.8% more than a year earlier.

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